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Deutsche Bank launches 8-bn-euro capital hike

AFP

The headquarters of Deustche Bank, Germany's biggest lender, in Frankfurt am Main, Germany, on January 29, 2014The headquarters of Deustche Bank, Germany's biggest lender, in Frankfurt am Main, Germany, on January 29, 2014

The headquarters of Deustche Bank, Germany's biggest lender, in Frankfurt am Main, Germany, on January 29, 2014The headquarters of Deustche Bank, Germany's biggest lender, in Frankfurt am Main, Germany, on January 29, 2014

Deutsche Bank said Sunday it was seeking to raise up to 8 billion euros ($11 billion) in fresh capital, in what would be the second biggest recapitalisation in the bank's history.

The bank launched its biggest capital hike in 2010, when it sought 10 billion euros.

In a statement, the bank said it would carry out the recapitalisation in two phases, first by raising 1.75 billion euros from one single investor -- Paramount Holdings Services, an investment vehicle owned by a member of the Qatari royal family.

The second phase of the recapitalisation will be carried out through a sale of 300 million shares reaching 6.3 billion euros.

"The package of measures we are announcing today represents a decisive response to both the challenges and the opportunities in a changing macro-economic, competitive and regulatory environment," said Juergen Fitschen and Anshu Jain, co-chief executive officers of the bank in a statement.

Date created : 2014-05-18